Director dealings: Ocado CEO lowers stake
Linic, a company closely associated to Ocado chief executive Tim Steiner disposed of a whopping 4,791,200 ordinary shares in the grocery giant on Tuesday.
Food & Drug Retailers
4,460.72
16:29 27/12/24
FTSE 100
8,149.78
16:54 27/12/24
FTSE 350
4,495.62
16:29 27/12/24
FTSE All-Share
4,453.14
17:05 27/12/24
Ocado Group
303.70p
16:40 27/12/24
Linic, which is wholly-owned by Arthur Seligman, as trustee of the Steiner 2008 Millennium Trust, sold the shares at an average price of 1,060p each, for a total transaction amount of £50.78m.
Earlier this month, analysts at Barclay's downgraded Ocado to 'underweight' from 'equal weight' as while the online grocery business has been de-risked, the broker said that did not guarantee "unlimited upside" for the share price.
Over the last nine months, the company has been catapulted into the FTSE 100 after confounding many doubters by signing up four overseas retailers for its Smart Platform robot-operated warehouse system: France's Casino, Sobeys of Canada, Sweden's ICA and US giant Kroger the most impressive of all.
"After several years of unfulfilled promise, the willingness of third parties to pay for Ocado’s online grocery expertise has undermined a central bear argument on Ocado," Barclays analysts wrote.
As of 1620 BST, Ocado shares had lost 1.48% to 1,063.50p.
Top Director Buys
Value And Income Trust (VIN)
Director name: Oakeshott,Matthew A
Amount purchased: 75,000 @ 267.50p
Value: £200,625.00
C&c Group (CCR)
Director name: Solesbury,Jonathan
Amount purchased: 50,000 @ 3.40
Value: 170,000.00
Tp Icap (TCAP)
Director name: Ng,Edmund
Amount purchased: 20,000 @ 288.94p
Value: £57,788.82
C&c Group (CCR)
Director name: Clerkin,Jim
Amount purchased: 15,000 @ 3.45
Value: 51,748.50
Deltex Medical Group (DEMG)
Director name: Keen,Nigel J
Amount purchased: 2,000,000 @ 0.90p
Value: £18,000.00
Fireangel Safety Technology Group (FA.)
Director name: Silverton,Ashley Victor
Amount purchased: 20,000 @ 51.80p
Value: £10,360.00
Spirent Communications (SPT)
Director name: Hutchinson,Eric G
Amount purchased: 210 @ 119.60p
Value: £251.16
Mitchells & Butlers (MAB)
Director name: Jones,Timothy (Tim) Charles
Amount purchased: 54 @ 255.18p
Value: £137.80
Mitchells & Butlers (MAB)
Director name: Urban,Phil
Amount purchased: 54 @ 255.18p
Value: £137.80
Top Director Sells
Ocado Group (OCDO)
Director name: Steiner,Tim
Amount sold: 4,791,200 @ 1,060.00p
Value: £50,786,721.83
Cranswick (CWK)
Director name: Couch,Adam
Amount sold: 25,477 @ 3,246.45p
Value: £827,098.08
Cranswick (CWK)
Director name: Bottomley,Mark
Amount sold: 16,875 @ 3,246.45p
Value: £547,838.44
Cranswick (CWK)
Director name: Brisby ,Jim
Amount sold: 16,734 @ 3,246.45p
Value: £543,260.95
Cranswick (CWK)
Director name: Davey,Martin T P
Amount sold: 13,256 @ 3,246.45p
Value: £430,349.42
Cranswick (CWK)
Director name: Aldersley,Christopher
Amount sold: 9,401 @ 3,246.45p
Value: £305,198.77
Prudential (PRU)
Director name: Turner,James
Amount sold: 1,473 @ 1,748.00p
Value: £25,748.04